Government aims for optimal rate of Goods & Service Tax: Arun Jaitley

The Government has set the target of 1st April next year for roll out of the Goods and Services Tax, GST. Addressing a press conference in New Delhi yesterday, Union Finance Minister Arun Jaitley unveiled a detailed road map for the GST implementation. 

He said that government is aiming for an optimal rate of taxation though the final decision will be taken by the GST Council.



 As regards the impact of GST roll out on inflation, he said the tax rates will come down over the years and hence the prices of many commodities will also decline. 

The Finance Minister said once GST is rolled out, doing business in India would be easier. Mr Jaitley said state governments of all political parties were overwhelmingly in support of the GST legislation.